Jerry and Kramer enter a contract for Jerry to buy Kramer's pet rooster for $ 30.

Jerry and Kramer enter a contract for Jerry to buy Kramer's pet rooster for $ 30. Kramer changes his mind and no longer wishes to sell the rooster because he bought the rooster only a few months ago from someone else for $300 and the fair market value of the rooster is at least $480. Can Kramer cancel the contract?

a. Yes, because the consideration is unreasonable.

b. Yes, because the contract was not in writing and violates the statute of frauds.